Traverse Energy (TVL) Stock Price Down 26.7%
Shares of Traverse Energy Ltd. (CVE:TVL) fell 26.7% on Friday . The company traded as low as C$0.06 and last traded at C$0.06. 304,000 shares changed hands during mid-day trading, an increase of 336% from the average session volume of 69,737 shares. The stock had previously closed at C$0.08.
Separately, GMP Securities lowered shares of Traverse Energy from a “hold” rating to a “reduce” rating and reduced their price objective for the stock from C$0.10 to C$0.05 in a research report on Friday.
The company has a debt-to-equity ratio of 20.41, a quick ratio of 0.09 and a current ratio of 0.12.
Traverse Energy Company Profile (CVE:TVL)
Traverse Energy Ltd. engages in the acquisition, exploration, development, and production of natural gas, oil, and natural gas liquids (NGL) in Canada. The company's principal properties include the Coyote, Michichi, Turin, Duvernay shale, and Watts located in the province of Alberta. As of December 31, 2017, its proved plus probable reserves included 5,626 million cubic feet of natural gas and 1,289.6 thousands of barrels of oil and NGL.
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